According to a recent article in CEO World, among the top 3 things that are keeping CEO’s up at night is the strength of their people. But it’s not physical strength that keeps them awake. It’s the strength of their current and future leadership talent that has them concerned.
Their concern is valid. With a very competitive job market at play, the war for talent is still very much an issue for organizations across all industries. CEOs should look within their own workforce and focus on engaging & retaining the talent they have. That means developing the leadership skills and competencies of underrepresented talent to get them ready for inclusion into the succession planning for future leadership roles.
Our research on Cultural Dynamics in the Workplace™ has proven that when you address all of the 5 Key Factors below that are holding organizations back from achieving an inclusive culture, you will reach the business performance goals you have set for the organization. Two of these factors are directly tied to engaging and retaining talent.
- Mindsets of Leaders
- Opportunities for Talent
- Corporate Policies & Hidden Bias
- Leaders’ Inclusive Behaviors and Decisions
- Development of Underrepresented Talent’s Leadership Competencies
With research exposing that 67% of employees expect development training & opportunities, a leadership development plan is an essential part of your DEI strategy, and one which will take it from passive to powerful. To give your underrepresented talent the tools and training they need to be seen as future leaders, DO THIS, NOT THAT...
Development of Underrepresented Talent’s Leadership Competencies
Underrepresented talent is not getting the leadership training in the core competencies they need to be seen as future leaders.
To help solve for this barrier…
DO THIS, NOT THAT:
DO invest in developing the leadership skills of underrepresented talent with skill sets that align them with leadership––business, strategic, and financial acumen. Train them on the competencies they need to be put into succession plans for leadership roles. Focusing on business, strategic, and financial acumen will help engage, retain and provide them with advancement opportunities. Doing this is a win for everyone.
waste your resources on generic or tactical training that doesn’t align with leadership. Stop doing the trainings you’ve been doing. It’s simply a waste of time, and will lead your underrepresented (and underdeveloped) talent to look elsewhere for advancement opportunities. If you are not training them on these, and they are not demonstrating business, strategic and financial acumen, they will never be seen as future leaders.
Simply put, the easiest way to win the war for talent is by investing in the talent you already have. A good leadership development program is something every organization should have in place and should be part of your overall DEI strategy.
Think of it this way…when you invest in underrepresented talent, you’re investing in the organization’s culture, and its future leaders. The world’s most successful organizations have already figured that out and are reaping the benefits with less turnover and a more inclusive culture. Isn’t it time you did, too?
We can help you recalibrate your DEI strategy with a leadership development program that takes your strategy from Passive to POWERFUL. To learn more, check out our solutions here or contact us today for a consultation. #WeCanHelp
And don’t forget to check back often for our next installment of DO THIS, NOT THAT. We want to help keep you on track for building a true culture of inclusion.
DO THIS, NOT THAT
Part 5: Coming Soon